Chain reaction

Somerfield said an "incredible response" to its survey of employees' views about changes to terms and conditions had forced it to extend the submission deadline. Staff voted against changes in August.

Premier pulls out

Premier Foods has pulled out of talks to buy UB's UK and Irish biscuits and snacks, leaving the path clear for US buy-out house The Blackstone Group.

Tax case win

Cadbury Schweppes has won a landmark case in the European Court of Justice that could allow hundreds of companies to reclaim tax. The court ruled that UK rules allowing taxation of foreign subsidiaries should only apply to companies with "wholly artificial" activity.

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